And economists want it: positive rates make them feel comfortable that monetary policy might still work when in practice it has been mostly dead as a tool of economic management since 2009.

This is, recall, the man who has been arguing that we should have more monetary policy. That dead tool.

7 thoughts on “Snigger”

  1. I realise that ‘Spud’ gives you very easy pickings, Tim, but I miss all your vituperation of the dim bints at the Tox Dadger. Does Polly Toynbee still write malign shit for a living? Does she still own a villa in Italy? I think we should be told.

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